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Sumner Redstone to step down from Viacom board

bizjournals Friday, 16 December 2016
Sumner Redstone, the 93-year-old billionaire, is expected to step down from the Viacom board of directors following a meeting next year. Viacom set the 2017 meeting for Feb. 6 at its headquarters in Manhattan. The news comes after Redstone and his daughter Shari Redstone earlier this week cancelled plans to merge Viacom with CBS after months of back-and-forth with their fellow directors. Redstone, through his company National Amusements, is the controlling shareholder of both Viacom and CBS. He…
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News video: Sumner Redstone Leaving Viacom Board

▶ Sumner Redstone Leaving Viacom Board 00:40

Sumner Redstone will step down from the Viacom (VIAB.O) board of directors after the company's annual meeting in February, according to a company filing Friday. The 93-year old Redstone, who has not been at an annual investor meeting since 2014, will still continue to participate in meetings in a...

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